bid

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Related to Best Bid: Best Ask

bid

n. an offer to purchase with a specific price stated. It includes offers during an auction in which people compete by raising the bid until there is no more bidding, or contractors offer to contract to build a project or sell goods or services at a given price, with usually the lowest bidder getting the job. (See: contract)

bid

noun advance, approach, estimate, licitatio, offer, offered price, overture, presentation, price, proffer, proposal, proposition, quotation, quoted price, submission, tender
Associated concepts: auction sale, bid bond, bid in, bid off, bidder, competitive bidding, proposal, upset bid, with reserve, without reserve
See also: appeal, application, assign, call, command, detail, dictate, direct, endeavor, enforce, enjoin, impose, insist, instruct, invitation, invoke, mandate, offer, order, overture, petition, pray, prescribe, proffer, propose, proposition, request, summon, summons, writ

BID, contracts. A bid is an offer to pay a specified price for an article about to be sold at auction. The bidder has a right to withdraw his bid at any time before it is accepted, which acceptance is generally manifested by knocking down the hammer. 3 T. R. 148; Hardin's Rep. 181; Sugd. Vend. 29; Babington on Auct. 30, 42; or the bid may be withdrawn by implication. 6 Penn. St. R. 486; 8, Id. 408. Vide 0@ffer.

References in periodicals archive ?
If you have the best bid, the best bid should win it, at least that's the theory.
He said: "We will compete very successfully with the other bids and there will be no doubt by the end of it that we have produced the best bid.
They are decided by lobbying and personal preference - and it may not necessarily be the best bid that gets it.
LONDON -- Reuters (NASDAQ:RTRSY)(LSE:RTR) is offering clients the ability to see the best bid and offer price on major stocks wherever they are quoted from today.
However, there is no evidence that residents have been overcharged or that city officials didn't take the best bid.
MidPoint Match was integrated with a fully-displayed Best Bid Offer market in the fourth quarter of 2006.
Smith noted that Resource Bank's entry into the Nasdaq National Market provides brokers and others with immediate access to the best bid and ask prices and other information about the company's shares throughout the trading day.
Linked to the primary markets and exchanges, Millennium leverages the power of the NYFIX Network while its real-time matching algorithm routinely executes trades at or better than the National Best Bid or Offer (NBBO).